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Valamar Riviera intends to invest 105.6 mln euro in '25-'26

Jun 18, 2024, 5:37:27 PMArticle by Annie Tsoneva
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June 18 (SeeNews) - Croatian hotel owner and manager Valamar Riviera [ZSE:RIVP] said on Tuesday its supervisory board pre-approved company’s investments for its 2025/2026 investment cycle in the amount of 105.6 million euro ($113.5 million).

Valamar Riviera intends to invest 105.6 mln euro in '25-'26

"Valamar Riviera’s planned investments are mostly focused on the construction of the Pical 5-star premium resort in Porec, the largest single investment in Croatian tourism, in which Valamar plans to invest a total of 139 million euro within a two-year period," the company said in a filing to the Zagreb bourse.

The Pical hotel resort will be open year-round and will have some 600 employees in full-time positions. The plan also includes further investments in beaches and other amenities in all destinations, renewables, green energy, and digitization, all within the sustainability and responsible business framework.

The final decision on the investments in the 2025/2026 cycle will be made by the end of the year, Valamar Riviera said.

Blue-chip Valamar Riviera’s shares traded 1.19% lower at 5.00 euro on Tuesday afternoon on the Zagreb bourse.

($ = 0.930 euro)

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